Technical analysis of the S&P 500 as it resumes its ascent while EUR/GBP, silver price hover above support.
DailyFX Real Time News 2026-06-30 09:53:02
Context: The S&P 500 has resumed its ascent, reaching a high of 7,444, with potential resistance levels at 7,483 and 7,517, while EUR/GBP and silver prices hover above support levels. The market movements are influenced by various factors, including the interest rate differential between the US and Japan, and expectations of potential US-Iran talks. The technical analysis of these markets indicates a bullish short-term outlook for the S&P 500.
Key Facts
- The S&P 500's recovery from Friday's low of 7,294 has reached a high of 7,444, with potential resistance levels at 7,483 and 7,517, and support levels at 7,294 and 7,238.
- EUR/GBP remains under pressure but holds above last week's ten-month low at £0.8603, with potential support levels at £0.8597 and £0.8575, and resistance levels at £0.8620-£0.8632 and £0.8651-£0.8656.
- The price of silver has managed to hold above last week's low of $55.5967, with potential support levels at $54.4852 and $54.3935, and resistance levels at $60.7996 and $61.0065.
- Asian equities have had a record-breaking quarter, with Japan's Nikkei rising over 38% and South Korea's KOSPI advancing nearly 71%, led by gains in semiconductor stocks.
- The yen has fallen to a 40-year low of ¥162.41 against the dollar, prompting Japan's finance minister to reiterate readiness to intervene in currency markets.